Saigon Plant Protection outlines plan to address stock warning

Saigon Plant Protection Joint Stock Company (SPC) reported a positive net profit after tax of VND 7.5 billion for the first six months of 2025, but its accumulated undistributed net profit after tax remained negative at VND -63.9 billion. This led to a warning from the Hanoi Stock Exchange (HNX) due to its negative undistributed net profit after tax at December 31, 2024.

The company's net revenue increased by 7% to VND 479.2 billion in the first half of 2025, while the cost of goods sold rose by 2% to VND 383 billion. Gross profit from sales reached VND 96.2 billion, a 35% increase compared to the same period last year, with a gross profit margin of 20% (up from 16%). This improvement is attributed to restructuring the product portfolio, focusing on high-margin products, controlling production losses, and reducing labor costs.

SPC aims to further improve its financial performance in 2025 by increasing revenue, managing inventory, recovering debts, and completing a cost restructuring plan. These measures are intended to boost the company’s net profit after tax and gradually reduce the accumulated negative undistributed net profit after tax on the consolidated financial statements.